Value-Add Multifamily Near Westside BeltLine | 1247 Joseph E. Boone Blvd
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Value-Add Multifamily Near Westside BeltLine 1247 Joseph E. Boone Blvd
64 Unit Apartment Building $6,400,000 ($100,000/Unit) Atlanta, GA 30314
Investment Highlights
- 64 Unit Value-Add Multifamily in Westside Atlanta:
- Within walking distance to future Westside Beltline Trail. Gated with large internal grassed courtyard area.
- Playground in rear with large community garden and covered pavilion.
- Mix of 1 beds, 2 beds and 3 bed units. Partially renovated with several recent updates throughout- see page (update) for more details.
- Located in a qualified opportunity zone- see page 13 for more details. All units have central HVAC.
- MARTA bus line accessible. Easy access to downtown Atlanta.
Executive Summary
Rare opportunity to acquire this 64-unit, value-add multifamily property on the bustling westside of Atlanta. The property is located in a Qualified Opportunity Zone, just steps from the Westside Belt Line Trail. The property is currently underperforming and priced to sell. The surrounding neighborhood/s are drastically improving with several new developments on the forefront, including the new Westside Quarry Park and future Microsoft Development.
Property Facts
| Price | $6,400,000 | Building Class | B |
| Price Per Unit | $100,000 | Lot Size | 3.74 AC |
| Sale Type | Investment | Building Size | 43,896 SF |
| No. Units | 64 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1960/2008 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Garden |
| Price | $6,400,000 |
| Price Per Unit | $100,000 |
| Sale Type | Investment |
| No. Units | 64 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 3.74 AC |
| Building Size | 43,896 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1960/2008 |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
Site Amenities
- Courtyard
- Picnic Area
- Playground
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 15 | $1.50 | 536 |
| 2+1 | 46 | $1.50 | 600 |
| 3+1 | 3 | $1.50 | 900 |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,289,560 | |
| Land Assessment | $361,360 | Total Assessment | $1,650,920 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$361,360
Improvements Assessment
$1,289,560
Total Assessment
$1,650,920
zoning
| Zoning Code | RG3 |
| RG3 |
-
Andy Lundsberg -
Michael Wess, CCIM -
Bull Realty Inc.
(404) 876-1640
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Value-Add Multifamily Near Westside BeltLine | 1247 Joseph E. Boone Blvd
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